COMMISSIONER OF INCOME TAX Vs. NARENDRA KUMAR BUTALA

JUDGEMENT

(1.) HEARD learned Counsel for the parties.

(2.) THE following substantial question of law arises in this appeal:

(3.) LEARNED Counsel for the Appellant drew our attention to the fact that in fact the relevant provision of law i.e. Section 40A(3) of the Income Tax Act, 1961 as it was in forced in the year 1993 -94 contained no such word like "in a day" and therefore, only on this ground alone the order passed by the Tribunal is liable to be set -aside. It is also submitted that the reasons given by the Assessing Officer and the Appellate Authority fully justified the disallowance of such expenditure which has been claimed by the Assessee.